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MacCallum: "The student loan business would be taken over by the government as well"

March 19, 2010 10:19 am ET

From the March 19 edition of Fox News' America's Newsroom:

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Previously:

Is Glenn Beck now in favor of corporate welfare?

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    • Author by sloucho84 (March 19, 2010 10:26 am ET)
      5  
      I hope so, seeing as Bush cut some of the student loan program to pay for Iraq.
      Either way, many student loans are already federally subsidized.
      Report Abuse
    • Author by phredicles (March 19, 2010 10:26 am ET)
      4  
      Oh, NO! You mean corporations won't be able to suck massive profits from the high cost of essential education any more? Today we are all North Koreans!
      Report Abuse
    • Author by The_Cat (March 19, 2010 10:28 am ET)
      6  
      Guys? Guys! Hey! Shut. Up. The Republicans privatized part of the student loan system, because they wanted to give money to their buddies who run the banks. It happened in the 90s. Okay? And somebody finally realized what a vast amount of money we are wasting, and decided to return to having student loans run strictly by the federal government, cutting out the wasteful middleman.

      Now, I understand that you cheerlead for the hogs who root at the public trough, who do no work for the money they take home, but this is getting a bit ridiculous. And, just in case you didn't know? You can still borrow money privately to finance your education. Here's the difference: Those loans will not be underwritten by taxpayers. And the banks don't want THAT risk, so they're complaining. "Hey! We used to loan out the government's money, get a cut when people paid off their loans, and had the fed to cover any losses we incurred! Now, we have to take all the risk ourselves." And they cry and blow snot into their silk handkerchiefs and pretend they are downtrodden.

      Not buying it.
      Report Abuse
      • Author by The_Cat (March 19, 2010 10:30 am ET)
        2  
        editor's note: And, by 'Guys' I was speaking directly to FOX Propaganda talking heads.
        Report Abuse
      • Author by Ouroborus (March 19, 2010 10:43 am ET)
        4  
        'Subsidize risk, privatize profits' goes the old mantra; they were basically getting free money from the government and now they complain that taking away those generous taxpayer gifts is *gasp* socialism. Problem is, there was never any reason for them to be included in the process, since they weren't actually putting any real capital at risk. Gambling with other people's money doesn't have that same sense of dread, does it?
        Report Abuse
    • Author by wolf kotenberg (March 19, 2010 10:28 am ET)
      2  
      Mine was from a bank secured by the federal government and that was never a problem. And i paid it back. So what is the problem ?
      Report Abuse
      • Author by wolf kotenberg (March 19, 2010 10:31 am ET)
        1  
        and I would like to ask rep Brown if he got a federally garanteed loan to pay for his college ?
        Report Abuse
    • Author by jediknight65 (March 19, 2010 10:34 am ET)
      2  
      stafford loans are soooooo EVIL! low interest rates and everything. that doesn't make banks money at all. and who cares if kids go to college. unless you are rich you don't deserve to go to college. lol what a joke
      Report Abuse
      • Author by wolf kotenberg (March 19, 2010 10:40 am ET)
        2  
        I know they are evil. the only ones that can pay cash is sons of saudi princes who will never qualify for football scholasrships ( sarcasm turned on, mild setting )
        Report Abuse
        • Author by sloucho84 (March 19, 2010 10:44 am ET)
          2  
          But if the government further helps the poor go to college, then they'll have useful degrees. And if they have useful degrees they'll get higher paying jobs. And if they get higher paying jobs they won't be poor anymore. And if nobody's poor anymore, then capitalism failed, because in every competition there's a loser.
          Report Abuse
          • Author by wolf kotenberg (March 19, 2010 10:55 am ET)
            1  
            Yes every competition has a loser. much like the Superbowl " losers '. much like the Olympics silver medalists. Much like " the american idol ' second placed winners. point is in the bigger scheme of things, not really losers.
            Report Abuse
            • Author by aj.physics (March 21, 2010 9:00 pm ET)
                 
              Unless you're Plushenko then your silver medal becomes a Platinum.
              Report Abuse
      • Author by aj.physics (March 21, 2010 8:58 pm ET)
           
        Remember Education isn't a right, it's a privilege and so of course it should only go to those who were privilege enough to be born with a silver spoon in their mouth. I mean if we let every one into colleges we might end up with a trailer park kid in the white house... Oh wait wasn't that Clinton? If education and research was only available to the rich, we wouldn't have many of our modern day thinkers and doers like Feynman, Obama, or McNair. Do people really want to go back to being serfs?
        Report Abuse
    • Author by blk-in-alabam (March 19, 2010 10:51 am ET)
         
      Cleaning up the student loan mess that has crippled the USA for 40 years is doing more for freeing The USA people than anything since civil righta legislation.Investing the $60 billion dollar bank student loan profits in the USA people frees people of all races.All of us will benifit from the results.Just like all of us have suffered for the past 40 years have suffered the results of this theft of USA foundation pillars by the banks.
      Report Abuse
    • Author by blueline99 (March 19, 2010 10:54 am ET)
      2  
      Student Loans were giveaways to banks. The loans were guaranteed by the Fed and the banks were getting free money for zero risk endeavors.

      It's about time we stopped this mess!
      Report Abuse
    • Author by New Frontier (March 19, 2010 11:06 am ET)
         
      Hey, look! On Fox News!! It's a young, white, blond Republican woman discussing issues with a middle-aged, white Republican man---and, lo and behold, they both are in agreement!!
      Report Abuse
    • Author by highliter (March 19, 2010 11:22 am ET)
      1  
      Federal Student loans are the reason Colleges get away with gouging students. College tuition has risen more than anything. Including Gas, Health Care Electricity, ect.. But people keep paying it because the government gives them more and more money to pay it. If the government didn’t give people massive loans to pay for school schools would be forced to lower their prices to where people could afford to go again!
      Report Abuse
      • Author by jeter2 (March 19, 2010 11:34 am ET)
        4  
        Highliter,

        That sounds good in theory, but I doubt the price of tuition will plummet because if federal student loans are eliminated, banks would offer the loans & at a higher interest. It's all greed, be it the colleges or the banks.

        There are some things the government does well. Student loans are among them.
        Report Abuse
        • Author by blk-in-alabam (March 19, 2010 11:39 am ET)
          1  
          The government benifits by increasing the chance a person will be a future tax payer,not dependent on the government for food and shelter.This also reduces future tax increases.
          Report Abuse
        • Author by highliter (March 19, 2010 11:51 am ET)
             
          Im not against federal student loans entirely they just need to cap them to force these Colleges who are ripping us off to charge less. People complaining about Big Oil, Big Pharmacy, Health Insurance , ect where is all the complaining about Big education who is screwing us worse than anybody!
          Report Abuse
          • Author by seahawks123 (March 19, 2010 11:57 am ET)
              6
            Most college professors are HUGE libs. They will never be asked to take a pay cut like any of the companies listed above.
            Report Abuse
            • Author by peace4all (March 19, 2010 12:09 pm ET)
                 
              feel better that you got to get some lame talking point into the discussion?
              Report Abuse
            • Author by foghornleghorn (March 19, 2010 12:19 pm ET)
              1  
              Most college professors are HUGE libs

              That's right. Because most educated people are liberals.
              Report Abuse
            • Author by Sharpe (March 19, 2010 12:28 pm ET)
                 
              who cares? I bet the professor does more work in a day than the CEO does in a week. In fact, CEOs lose billions for their company and still make million of dollars in bonuses at the end of the year. So excuse me if i dont shed a tear in the name of the corporate con artists that run our banks and provide no credible service to the country or the people in it.
              Report Abuse
              • Author by christopher howard (March 19, 2010 1:08 pm ET)
                1  
                "Most college professors are HUGE libs. They will never be asked to take a pay cut like any of the companies listed above."

                Both my parents are college professors and have had to make numerous finacial sacrifices over the years. As usual, Seahacks, you don't know what the hell you're talking about.
                Report Abuse
                • Author by phredicles (March 19, 2010 6:39 pm ET)
                     
                  My brother-in-law and his wife are college professors here in California, which means they've recently been required by Ahhnold to take three unpaid furlough days a month.

                  But as for stealers123, clearly talking points are a real time-saver - no need to go through the trouble of thinking or finding things out.
                  Report Abuse
          • Author by blk-in-alabam (March 19, 2010 12:18 pm ET)
               
            This happens because of the wheeler dealer crooks working out side the scrutiny required of a government operation.The people have a right to know.The schools raise rates with complicity of the banks holding private books,that the government guarantees.The same thing was done inflating house prices in a business where the government buys and guarantees all the loans.The government should better supervise all aspects of any loans it guarantees.They went from pigs to hogs on houses.Houses were a better vehicle to steal larger amounts the USA people's money.I mention the student loan mess and the housing crash together because the crimes were committed by the same thieves.This is a preview of a day of reckoning for many things.A law of the farm."pigs live hogs go to slaughter."This is the major difference in republicans(so-called conservatives),and democratic manipulation of the system for personal gain,hogs and pigs.A republican(so-called conservatives) hog leaves nothing for anything or anybody to eat.When the hog is slaughtered many can eat.
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    • Author by Sharpe (March 19, 2010 12:23 pm ET)
         
      Yes because of course our financial sector otherwise known as giant banks have played such a positive rule in our society before right? How could they possibly deserve losing government business? Perhaps that whole economic meltdown, deep recession thing that they caused has something to do with it. This is particularly shocking that even the brain-dead faux audience doesn't think banks shouldnt get the business. Were the bailouts so long ago that they forgot already?
      Report Abuse
    • Author by Sharpe (March 19, 2010 12:25 pm ET)
         
      The best government is the one entirely separated from the private sector in every possible way be it campaign funding, lobbying, business transactions, subsidies, tax breaks - all of them should be illegal and particularly on the largest corporations. Perhaps, subsidies should remain for small businesses but no tax breaks for ANY OF THEM.
      Report Abuse
      • Author by Leftylib (March 19, 2010 1:11 pm ET)
           
        Well I just heard that Obama is going to introduce a bill to put all toilets under the control of the federal government. You know what will happen if he does that? Well, us conservatives will just stop going to the bathroom. So there.
        Report Abuse
    • Author by sdemary90 (March 19, 2010 12:34 pm ET)
         
      I think the real issue is what the HOSt said that the money will be save and then given to minority school as she said what's up with that? I think they are really trying to make it a black and white issue! Why can't we all get along here!!!!
      Report Abuse